ISLAMABAD: The Federal Board of Revenue (FBR) has denied the fake news circulating on Social media earlier this week about 400% hike in Registration and Token Taxes in the financial budget 2019.
According to FBR, it was a typographical mistake which was rectified in the Finance Act 2019, says a statement issued by the FBR on Tuesday.
The Token and Registration taxes remain unchanged.
The Token and Registration of vehicles remain the same as last year, the statement confirmed.
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There is no enhancement nor any reduction in tax rates.
FBR statement also clarified that no tax has been levied on private vehicles on the basis of seat capacity.
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However, The filer has to pay almost half than the non-filer, on the registration of the vehicle.
Currently, Car Token Taxes for Sindh, Punjab, KPK and Islamabad remains the same as last year.
There are no new taxes per seat and annually charging additional taxes like Professional Tax and Income Tax except at the time of Registration.
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